Major Averages Close Higher, Dow Scores Third-Straight Weekly Gain

Claman on Call: FBN’s Liz Claman with an after-hours web exclusive on the markets, the Fed and Wal-Mart stock.

With dozens of headlines this week pummeling the markets, stocks fought through the drama and rallied this week. The major averages ended the day higher, with the Dow scoring its third straight weekly gain and longest winning streak in eight months.

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The S&P also perked up for the past three weeks, its longest winning streak in five months.

The Nasdaq closed out the week up more than 1%.

Even with the possibility of a Fed interest rate hike dissolving, there's one Fed head who absolutely believes we need to tighten rates and that the economy could have no problem swallowing one. Cleveland Fed President Loretta Mester says if we don't raise rates soon, it could actually hurt the economy. In a FOX Business exclusive I asked her by how much. Wal-Mart fell for a fourth straight day following a profit and sales warning from the CEO. Shares are down 11.7% this week. It's the worst week for the world's largest retailer in seven years.

And recently appointed United Airlines (NASDAQ:AAL) CEO Oscar Munoz was admitted to the hospital Thursday after suffering a heart attack. United Airlines has declined to comment on Munoz's current condition.

After the news broke Friday afternoon, trading activity spiked and shares fell, closing the day lower by just over 3%